SVOBODA & WILLIAMS | Real estate information >> Renting office, retail, storage space in Prague

Doing business in Central Europe’s fastest growing economy lures businessmen and entrepreneurs from all around the world. Hence demand for quality commercial space is high. In general, Prague offers two types of office and retail space: new-build shopping centers and office buildings and renovated historic buildings.

Recent studies indicate that Prague is well established among the top 15 European cities for relocating a business. Investments in office space in the city are well into the billions of euros. New office space is rapidly becoming available as new projects develop, such as the high rises in Prague 4 and projects in Prague 7, Holešovice area. Currently there are over 2 million square meters of office space available overall in Prague. Whether we talk about the needs of a small business or a large multinational with hundreds of employees, the Prague property market is ready.

Rent

Office rentals in prime locations in the city center start around EUR 10/m2 and go up to EUR 22/m2. The highest price per m2 applies to small offices, e.g. 20m2.

Office space outside the center, in the outskirts and large office complexes start as low as EUR 6/m2 and generally do not go over EUR 15/m2.

Generally, the rent for retail space is around EUR 30 – 35/m2 with exceptions in the top quality high foot traffic city center locations where prices are as high as EUR 180/m2.

Storage units start as low as EUR 2,7/m2, and go as high as EUR 9m2. The best large storage units go between EUR 3,5 – 4,5/m2.

Services, maintenance and utility charges

In a commercial lease the tenant is responsible for improvements, maintenance and utilities costs in the leased premises. The commercial tenant also pays the proportional costs of the building management and services such as the reception desk, security, and the maintenance of the common areas of the building. Building maintenance or service charges run from 2-10 EUR/m2, depending on the services provided by the building management.

Security deposits

Retail tenants are expected to pay a security deposit equal to one to six moths rent.